Analysts say that faster resolution of smaller cases would encourage investments in startups.
In what could come as good news at a time when many startups are shutting operations, the Insolvency and Bankruptcy Board of India (IBBI) is considering a proposal to expedite the resolution of smaller and less complicated cases. This also includes those involving start-ups and the resolution will be expedited to 90 days.
IBBI Chairman MS Sahoo told The Financial Express that a draft on this will be out in a day or two. An idea is being discussed wherein smaller cases could have slightly different procedures in terms of insolvency resolution. There could be differential treatment in terms of time…
Read the full article at: http://www.thenewsminute.com/article/shutting-down-startups-just-got-easier-insolvency-board-proposes-90-day-fast-track-60538
